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Winper Logistics Inc.
Beijing, China
Tel: 86-10-82563855
Fax: 86-10-82563856
Email: service@winper.com
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Resources >> Import & Export Essentials
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Import & Export Essentials |
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Help you to understand specialized import and export knowledge, including trade method, transaction condition, and other issues you might face frequently.
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Trade Barrier
Trade barrier Namely national trade control. In brief, in order to protect domestic commodity trading and the economy, to protect the national resources either from certain political or the military goal, the government will enforce non-customs duty method to control the import or to restrict export. It divides into the tariff barrier and the non-tariff barrier. These restrictions are mainly realized through all levels of government by imposing all kinds of trading rules in cargo import and export.
Tariff barrier Or the customs duty measure, mainly achieves the control of commodity import and export through high customs duty or the customs duty quota.
Non-tariff barrier Or the non-customs duty measure, mainly restricts import and export by using quota or permit management system, the foreign trade subsidy, counter-dumping, counter-subsidy, safeguard measure, and entering and/or leaving country examination quarantine system, and so on.
With the increasing living standard, the requirement for healthy goods, clean enviroment and safety has increased. This has affected the trading cost and it also builds some new barriers for important & export business. We call the terms related to these New Trade Barriers. |
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Import and export practice - General Commodity
General commodity import and export is custom terminology, referring to customs supervising and managing system. When duty is paid, the cargo will not be bonded by customs. If import and export cargo needs to provide permission credential, importer or export must acquire the necessary documentation be cargo release. |
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Import and export practice - Bonded Goods
Bonded goods refers to the goods that duty is not paid and is still monitored by customs in the process of local transportation to goods owners. Normally these goods are for re-export or for local assembly and production and then for export. To handle bonded goods, one needs to set up a special account with customs for inspection purpose. |
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Import and export practice - Specific Tax Exemption Cargo
Specific tax exemption incentive cargo are imported by specific enterprise, at specific region for the specific use. The national policy permits the tax exemption to, for example, self-using equipment of foreign investment, or disabled person's special-purpose product, and so on. The specific tax exemption cargos have different customs supervising and managing year limit according to the different type of goods, The exemption needs to be reported in advance. Besides providing essential permission credential, importer or exporter must also provide "Import and export Cargo Tax-free Proof". |
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The import and export practice - Temporarily Cargo Import
Refers to specific purpose goods, for example, goods for demonstration, container itself, sample for test, and so on. These goods needs to leave the country after using. When the goods is imported, the importer is able to be exempt paying the customs taxes and fees. Customs still has authority to monitor the use of the goods. |
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Import and export practice - Other Cargos Import & Export
Other Cargos Import & Export refers to the import & export other than the above mentioned practice. For instance, goods in transition, express items; goods for repairing, and so on, each of them needs specialized care. |
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Import and export practice - L/C (Letter of Credit)
Letter of credit is one kind of guarantee that is issued by bank to pay the due if some situations in the contract are met.
The detailed operation sequence is:
1. The buyer opens L/C through his own bank to the bank of seller, guaranteeing paying invoice amount under the controlled condition (for example, if cargo received in a certain time)
2. After the seller ships the cargo according to the provisions of L/C, depending on what are required in L/C, seller can start requesting payment from his own bank.
The banks of seller and buyer play the intermediate role to guarantee that buyer can receive the cargo and pays the loans, the seller can receive the payment at the same time, thus to guarantees the bilateral benefit.
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